Company News

8990 HDC known for delivering affordable homes in key cities

In the business of mass housing, 8990 Housing Development Corp. has built a solid reputation for delivering affordable homes in several key cities in the country. Incorporated in March 2003, its first project is called Deca Homes Minglanilla, Cebu.

Today, 8990 HDC is one of the biggest housing developers registered with the Home Development Mutual Fund (Pag-Ibig Fund) with a total take-out of 2,364 units in 2009 and 2,259 units from January to November 2010. 8990 HDC has completed 15 projects totaling 5,781 housing units in the cities of Cebu and Davao. It currently has seven ongoing projects in these cities and in Iloilo.

This year, 8990 HDC is adding a vertical condominium tower to its vast list of projects. The developer plans to sell P1.15 billion worth of residential units at Urban Deca Towers in Mandaluyong, the first and only low-cost high-rise condominium project in Metro Manila that offers units priced at less than P1 million.

The project, which is undertaken by subsidiary Foghorn Inc., is the first high-rise condominium project of 8990. Megawide is its general contractor.

Growing niche market

During my interview for PhilRealty TV with Januario Jesus Atencio, president and chief executive officer of 8990 Holdings, JJ told me about this new project that his company is quite excited about. He said that Urban Deca-Tower Edsa is not meant to be a primary residence, but rather targets a growing niche market of urban dwellers who are currently renting.

The residential units have a footprint of 13.06 square meters each, in line with the “microliving” concept. The project promotes the “halfway” house concept, targeting workers and

students who are looking for decent, clean, safe, secure and flood-free place to stay near their workplace or school.

The low-priced condo units are pitched as an affordable halfway house for people who live as far as Laguna, Cavite and Bulacan. Having their own condominium units is seen providing a viable housing alternative to long commutes, traffic jams, and renting dormitories and bed space.

Aside from being located near the bus and jeepney terminals, 8990 HDC said the project would also give buyers an alternative mode of transportation, being accessible to the 17-kilometer Metro Rail Transit line 3 (MRT3) along Edsa.

The high-rise tower will have 41 residential floors, a ground floor, four basement levels, 147 parking slots, a convenience store, a Laundromat, a food hall, lounge area as well as commercial spaces. The building will be equipped with a 24-hour CCTV and security, and four high-speed elevators.

Each unit is telephone- and cable-ready and comes fully furnished with air-conditioning, microwave oven, basic cabinets, mattress, curtains and a small dining table.

Interesting art collection

After the delightful interview, JJ toured me around his office that is covered with his interesting art collection. He shared his passion for Filipino artwork and is continually adding to his collection.

Salcedo Auctions’ Richie and Karen Lerma were delivering JJ’s newest acquisition. The art world power couple also told me about Salcedo Auctions’ The Collectors’ Sale: Fine and Decorative Art, Books, and Maps happening today at 11 a.m. at Three Salcedo Place.

This popular sale will present an exceptional opportunity for beginning collectors, who can rely on the guiding hand and expertise of Salcedo’s specialists, as well as for more experienced collectors with an eye for quality and potential.

Salcedo Auctions offers a curated selection of paintings, works of art, furniture, decor, jewelry, books and maps. Highlights include an impressive Victorian silver and crystal centerpiece by James Dixon & Sons; Art Deco jewelry; artworks and editions by renowned international artists Claudio Bravo, Pablo Picasso, and Damien Hirst; important Philippine furniture including an 18th century balayong chest, a 19th century “Sheraton” side table, and an original Ah Tay cabinet; and paintings by modern masters Malang, HR Ocampo, Joya, Saguil, Sanso, Zobel and Legaspi. There are works by contemporary artists as well. Check out the auction today.